Marvell Technology - MRVL Stock Forecast, Price & News

Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna Bancshares cut their price objective on Marvell Technology from $105.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, May 25th. B. Riley cut shares of Marvell Technology from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $75.00 to $63.00 in a report on Wednesday, June 15th. Morgan Stanley dropped their target price on shares of Marvell Technology from $68.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Friday, June 10th. UBS Group decreased their price target on Marvell Technology from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 23rd. Finally, StockNews.com cut shares of Marvell Technology from a "hold" rating to a "sell" rating in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.41.

Marvell Technology Trading Down 3.1 %

Shares of MRVL opened at $52.65 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market cap of $44.75 billion, a PE ratio of -86.31, a PEG ratio of 2.14 and a beta of 1.46. Marvell Technology has a 1 year low of $41.07 and a 1 year high of $93.85. The stock has a 50 day simple moving average of $50.00 and a 200-day simple moving average of $59.32.

Marvell Technology (NASDAQ:MRVL - Get Rating) last released its quarterly earnings data on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. The business's revenue for the quarter was up 73.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. On average, sell-side analysts predict that Marvell Technology will post 1.69 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Thursday, July 7th. Marvell Technology's dividend payout ratio is currently -39.34%.

Insider Activity

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $60.10, for a total value of $1,803,000.00. Following the completion of the sale, the chief executive officer now owns 672,052 shares in the company, valued at approximately $40,390,325.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the company's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $60.10, for a total transaction of $1,803,000.00. Following the transaction, the chief executive officer now owns 672,052 shares of the company's stock, valued at approximately $40,390,325.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total value of $801,920.00. Following the completion of the sale, the executive vice president now directly owns 92,203 shares of the company's stock, valued at $5,281,387.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,384 shares of company stock worth $3,230,310. 0.45% of the stock is owned by corporate insiders.